BSE sets IPO for January 23-25, to raise Rs 1,350 crore

More than 300 shareholders in BSE will sell up to 15.4 mn shares with a face value of 2 rupees each

BSE Ltd has set its initial public offering for Januar 23-25, according to a filing from India's second-biggest exchange, in a listing that bankers say could raise around Rs 1,350 crore ($198 million).

More than 300 shareholders in BSE, including Singapore Exchange and a Citigroup unit, will sell up to 15.4 million shares with a face value of 2 rupees each, according to its red herring prospectus filed with regulators.

The shares are expected to list on rival National Stock Exchange, on or around February 3, BSE said in the filing.

BSE's listing would come ahead of the National Stock Exchange, which filed for an IPO late last month with bankers saying it could raise as much as $1 billion (about Rs 6,800 crore).